I've been a tri axle driver for 3 years now after hauling freight for 7 years previous. I've been thinking lately about buying my own truck and seeing what I can do. Of course, I would line up account(s) before I would make such a move.
Anyway, my main question is this. What kind of a loan and for how many months could I get for a 1994 Pete 357 with 600,000 miles priced at $28,000.
This is the truck. Looks decent in the photo and it isn't too far away to go see and test drive it. I want to start relatively inexpensive, but I want a large enough body to make weight with prepared coal which is rather light. I know 1994 is going back some years, but from what I've read so far, starting out modestly seems to be better than going all out with a high $$$ late model truck.
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So I'm *thinking* about buying a tri-axle dump
Discussion in 'Ask An Owner Operator' started by Voyager1968, Nov 19, 2010.
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You will probably not be able to get a bank to finance it for you unless you can take out a personal loan or signature loan, normally at a much higher interest rate. Also having a huge down payment may help. I had a 95 Volvo and 3 diffrent banks told 2 diffrent potential buyers they wouldn't finance a truck that old. My brother ended up buying it and just paid cash. You may have better luck than my two guys did, They were never even given the chance to fill out the application.
Good Luck either way.
I have heard somthing about peer to peer loans. Possibly check that out on the web.Voyager1968 Thanks this. -
I think around 15 is a more realistic number for that truck. Construction is kinda slow and we are heading into winter.
It's a 17 year old truck, and 600 K for a dump truck is getting pretty close to needing at least an inchassis rebuild.
If that thing has a Cat in it, that could end up being quite expensive. It's nothing to wrap up 5-6 G in parts on a 3406 rebuild. If you had to pay a shop to do it, you would be better off parting out the truck.
The aluminum body can be a real negative too. Not really much good if you want to have the option of working construction -
As for the mileage, it seems that most trucks in the price range I'm looking at to start with are in the general 500,000 mile range. I have thought about the maintenance aspect of such vehicles.
With that being said, do you (or anyone else) have any recommendations as to what kind of mileages and price ranges that could be a better choice to get a quality truck? I saw a few later model Volvos for around 30-50k that have about 200,000 or so miles on them. Could these be a better option? One thing that I kind of a must have is an air ride suspension, as the current Mack camelback that I drive is beating my now getting older body up pretty bad.
At any rate, I'm not in a hurry to do this. I'm just putting some questions out there in the preliminary stages of my potential quest to own my own truck and business. -
I wouldn't hesitate to buy a 600,000 mile truck. I would have a dyno test done to see what kind of shape the engine is in.
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What I worry about is with that old of a Cat, is if it is getting ready to leak coolant around the crevice seals at the bottom of the liners. If the previous owners took care of the coolant it could be ok, but If they never checked and treated the coolant, you could be in for a very expensive repair.
And don't forget, those 600 K miles are dump truck miles, they are not like OTR miles -
An air ride cab wouldn't work for you? -
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Yeah I know the area well. I spent a lot of my youth there sliding down boney piles on old car hoods and riding dirt bikes in the old strippings.
You know that air ride doesn't work as well off road as a Camelback, or a walking beam.
That being said, I run around your area a lot. My truck has a Hendrickson on springs, and no air ride cab. I understand how much it sucks to get beat up all day -
The public roads around here aren't much better. 209, 309, and 54 are just horrible in spots. I firmly believe that Schuylkill County has some of the worst roads in all of PA.
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